tv CBS Morning News CBS July 26, 2011 4:30am-5:00am EDT
ol political stalemate, lots of finger pointing as president obama calls the debt talks a partisan three-ring circus. cold blooded killer, norway's self-confessed mass murderer makes a stunning announcement, there are others out there just like him. open for business, football fans couldn't be happier as players and owners finally end the lockout. o captioning funded by cbs >> hello, everybody. good morning, thanks for being with us. i'm betty nguyen. with just a week to go to raise the debt ceiling, the partisan bickering is now getting personal. president obama took to prime time monday night and blamed
republicans, then house speaker john boehner came out and blamed the president. the net result? still no deal. danielle knottingham is in washington. she joins us this morning. danielle, what's the latest there? >> reporter: well essentially this has become, as we said off the top of the show, the president has called it a three-ring circus. he did not hold back his criticism last night. the president essentially told the republicans that their plan is not good enough and republicans say the president is the one making this a crisis. president obama called for compromise in his prime time address monday night. with just one week to go until the deadline to raise the debt ceiling, he's blaming republicans for the dead lock. >> a significant number of republicans in congress are insisting on a different approach, a cuts only approach, an approach that doesn't ask the wealthiest americans or biggest corporations to contribute anything at all. >> reporter: but gop leaders argue the president is the one who won't budge.
>> the president wanted a blank check six months ago and he wants a blank check today. this is just not going to happen. >> reporter: president obama still wants the wealthiest americans to pitch in, but endorse senate majority leader harry reid's new proposal. it calls for a one-time increase of the debt limit increase in 2012, $2.7 trillion in spending cuts and no new taxes. republicans are pushing a two-step process, raise the debt limit enough to last through the rest of this year, then form a joint committee to tackle a second increase and more spending cuts. it's not clear if either plan has enough support to pass both houses but president obama has vowed to veto any plan to raise the debt ceiling in two waves. there are real consequences if the deal isn't reached by next tuesday. the value of the u.s. dollar could take a hit and the government may not be able to pay its bills. the president urged americans to get involved.
>> if you believe we can solve this problem through compromise, send that message. >> reporter: both parties insist the country will not default on its loans. the president says that a six-month extension may not be enough to avoid a credit downgrade. republicans say the president wants a longer deal so he can get through his re-election campaign. betty? >> all right, danielle knottingham in washington for us, danielle, thank you. with congress still in gridlock over the deficit, financial markets dropped, then they rebounded a bit, but on wall street and in foreign markets, they are taking a political haggling over the debt ceiling very seriously. anthony mason reports. >> reporter: wall street hasn't panicked yet but the world is watching as britain's business secretary put it -- >> the biggest threat to the world financial system comes from the fear in the american congress. >> reporter: but investors in the debt insurance market are measuring the risk of a u.s.
default at less than 1%. bankrupt greece by comparison is at 16%. and the u.s. may have just bought itself more time. the deadline really isn't august 2nd? >> in our view it's not, no. >> reporter: larry cantor, head of research at barclay's capital says the treasury faces a big $22 billion social security payment august 3rd but recent tax revenues have come in $14 billion higher than expected. >> in other words the treasury on august 2nd stands to have more cash on hand than before and they'll be able to make the big social security payment august 3rd. >> reporter: at most that gives the government one more week. >> can they go up to the 11th hour? >> there's a big cost going to the 11th hour because you start to spook markets. >> reporter: former governor of michigan says in the rescue package in 2008 the dow plummeted nearly 800 points that day. >> boy, was it a disaster, so
when you go last minute and you're basically saying you know, don't assume that we have responsible adults that has huge, huge costs we've seen it happen before. let's hope it doesn't happen now. >> reporter: while economists say the risk is remote, the risk of a new recession is very real. if america has to slash its spending to stay under the debt ceiling, the recovery could be over and quickly. anthony mason, cbs news, new york. now to the massacre in norway. the confessed killer is in solitary confinement this morning, after his first appearance in an oslo courtroom. he expects to spend the rest of his life in a cell. and claims two other cells of his network are out there. randall pinkston reports. >> reporter: anders breivik left the courtroom to spend the next four weeks in solitary confinement. he pleaded not guilty.
>> the accused believed that he needed to carry out these acts in order to save norway and western europe from among other things cultural marxism and muslim takeover. >> reporter: police are investigating breivik's claims that there are two more cells in his organization. breivik admitted he bombed oslo's government building and opened fire at a youth camp. police originally put the death toll of the two attacks to 100, but revised it down to 76. ♪ a huge crowd gathered to express their shock and sadness, some holding flags, most holding flowers, many in tears. this vigil is the latest response to the terrorist attack. norwegians want to send a message to the confessed gunman and anyone who follows him that this normally peaceful nation is united against violence. >> to show that we care for each other and we stand together. >> reporter: breivik's father, who did not want to be
identified, said his son must be mentally ill. and wished his son had killed himself, rather than all those people. randall pinkston, cbs news, oslo, norway. it could be the evidence that helps set amanda knox free, experts told an appeals court in italy on monday, the dna evidence that helped convict her of murdering her roommate may have been contaminated. they say that investigators made a series of errors using dirty gloves and not wearing caps to collect evidence. knox's appeal hearing continues on saturday. are you finally ready for some football? after four months, owners and players decided to end the lockout and fight it out on the gridiron instead of the board room. fans could not be happier. jessica stone has the details. >> reporter: the nfl players' union approved a ten-year deal to end the four and a half month lockout. >> to our fans, i know you love
this game as much as i do, and i know that it has been a very long process. >> reporter: the deal settled the biggest issue how to split the league's $9 billion revenue between the players and owners who overwhelmingly approved the proposal thursday. the nfl commissioner says he's grateful both sides worked hard to find common ground. >> football is back and that's great news for everybody. >> reporter: and players are ready to get back on the field. >> this is a fair deal that we're excited to present to our players, instead of being in these meeting rooms, we're in football meeting rooms, which i'm a big fan of. >> reporter: teams can start training camp as soon as wednesday, and the full season will be played as scheduled with the first preseason game august 11th. that's what fans have been waiting so long to hear. >> it means the wings come back out as well as the beer, as well as the tostitos. >> i pray they get everything done so i won't be forced to watch golf. >> reporter: when the lockout ends, the free agent frenzy begins as teams scramble
to find players and fill their rosters for the start of the season in september. jessica stone for cbs news, washington. in other news, troubled singer amy winehouse will be laid to rest today in a private funeral. her family won't say where. fans have turned the gates of her london home into a shrine. winehouse was found dead saturday after a very public struggle with drugs and alcohol. the denver teenager severely mauled by a grizzly is talking about the attack from his hospital bed. 17-year-old sam gottsegen and six other teens were hiking in the mountains about 120 miles north of anchorage saturday when an angry mother grizzly bear came at them. >> i thought i was going to die when i was being attacked. i was so scared. we saw the first person go around the corner and yell "bear!" started running backwards, and i looked behind me and the bear was behind me, so i started running down the hill and it tackled me on the way down. >> gottesegn's arms and chest
were slashed, a lung was punctured and two ribs broken. three other hikers were also hurt, all said to be okay, though. just ahead on the "morning news," a breakdown of the growing wealth gap, plus dramatic video of a waterspout churning up one of the great lakes. first though, bob schieffer has a preview of tonight's "cbs evening news." >> the debt limit debate is in heated standoff but we'll show you how some congressmen who are pushing for spending cuts are still putting millions of your tax dollars toward their own expensive pet projects. that story tonight on the "cbs evening news." i love that my daughter's part fish.
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♪and that's how sharing works. get yours at burger king, before someone else does. they're itchy, dry and uncomfortable. i can't wait to take 'em out, throw 'em away and never see them again. [ male announcer ] know the feeling? get the contacts you've got to see to believe. acuvue® oasys brand contact lenses with hydraclear® plus technology, keeping your eyes exceptionally comfortable all day long. it feels like it disappeared on my eye. [ male announcer ] discover why it's the brand eye doctors trust most for comfort. if you have astigmatism, there's an acuvue® oasys lens for that too, realigning naturally with every blink. ask your doctor for acuvue® oasys brand. check out this waterspout that formed over lake erie monday. the video taken from the shore near geneva, ohio. you can see the twister churning up the water. waterspouts are like tornadoes but lose their power as they hit land. always an interesting sight.
in "cbs moneywatch" your post office could be moving and airlines could elect an unexpected fee. ashley morrison is here in new york with all of that. good morning ashley. >> good morning to you betty. asian stocks were mostly higher. japan's nikkei moved 0.5%, while hong kong's hang seng gained over 1%. wall street stocks finished lower yesterday, the dow down by 8 points while the nasdaq fell 16. the wealth gap between whites and minorities in this country is getting wider. according to a new census report whites on average have 20 times the net worth of african-americans and 18 times that of hispanics, that's the widest gap in a quarter century. analysts blame the recession and uneven recovery. the postal service is reviewing 3,600 offices for possible closure. the postal service lost $8 billion last year. most of the offices under review are in rural areas.
postal officials say they are considering relocating some of the offices in local businesses, town halls or community centers. this morning, nissan and its chinese partner announced plans to invest $8 billion and launch 30 vehicles in china over the next five years. the plan calls for building new factories and introducing a china manufactured car by 2015. and betty you may know the faa was partly shut down friday due to a legislative stalemate in congress and that means federal taxes on airlines tickets expired but so far only three american carriers, alaska airlines, frontier and virgin america, are passing the savings on to you, most are collecting a windfall of $200 million a week. >> of course they are. we are not going to see the savings. all right, thank you, ashley. appreciate it. straight ahead your tuesday morning weather. and in sports, it could have been been bad as the padres hit
the turf against the phillies. it follows you wherever you go. it's a cloud of depression. and although you've been on an antidepressant for at least six weeks, you're frustrated that your depressive symptoms are still with you. seroquel xr, when added to an antidepressant, is approved for the treatment of major depressive disorder. for many, taking seroquel xr with an antidepressant was proven more effective for treating unresolved symptoms of depression than an antidepressant alone. call your doctor if you have unusual changes in mood, behavior, or thoughts of suicide. antidepressants can increase these in children, teens, and young adults. elderly dementia patients taking seroquel xr have an increased risk of death. call your doctor if you have fever, stiff muscles, and confusion, as these may be signs of a life-threatening reaction or if you have uncontrollable muscle movements, as these could become permanent. high blood sugar has been reported with seroquel xr and medicines like it and in extreme cases can lead to coma or death.
your doctor should check for cataracts. other risks include increased cholesterol and weight gain as well as seizures, dizziness on standing, drowsiness, impaired judgment and trouble swallowing and decreases in white blood cells, which can be fatal. use caution before driving or operating machinery. for more help putting distance between you and your depression, ask your doctor about adding seroquel xr today. learn more at seroquelxr.com. if you can't afford your medication, astrazeneca may be able to help. here's a look at the weather in some cities around the country. new york sunny, 86. miami thunderstorms 92. chicago partly cloudy 89. dallas, sunny and a whopping 102. l.a., sunny and 83 degrees. time now for a check of the national forecast. the latest satellite pictures shows storms on the move through the desert southwest toward the northern plains.
the southeast can expect scattered storms to fade away while the great lakes and ohio river valley enjoy clear skies. later today rain can fall across the gulf coast and southeast regions. it will be another blazing hot day in the southern and central plains states. and the northeast will enjoy pleasant days in the 70s and 80s. in sports some great plays at home in philadelphia. phillies in the first, ryan howard tries to score on a deep hit to right but a bullet relay nails him at home. then in the next frame the unexpected, a pick-off move to first then the padres chris denorfia steals home. san diego tops the phillies 5-4. an offensive assault in arlington, the rangers land an incredible 27 hits against the hapless twins. it got so bad minnesota sent right fielder mike cuddyer to the mound. the rangers trample the
twins 20-6. and watch out, the angels kelly downes throws up his glove for a comeback against the indians. did you see that? in the bottom of the ninth the winning run is brought in. indians edge the angels 3-2. when we return another look at this morning's top stories and why the price of some prescription drugs could drop as much as 80%. prescription drugs could drop as much as 80%. what do we have? all four of us, together? 24. he's low fat, too, and has 5 grams of sugars. i'll believe it when i--- [ both ] oooooh... what's shakin'? [ female announcer ] as you get older, protein is an important part of staying active and strong. new ensure high protein... fifty percent of your daily value of protein. low fat and five grams of sugars. see? he's a good egg. [ major nutrition ] new ensure high protein. ensure! nutrition in charge!
on the "cbs morning news," here's like at today's weather. there is a chance of thunderstorms in the northern plains states. the southeast can expect more heat and humidity. temperatures across the southern plains will still be in the 90s and 100s and the northeast could see some scattered showers. here's another look at this morning's top stories. last night president obama blamed republicans for the stalled debt talks, calling the talks a partisan three-ringed circus. meanwhile democrats and republicans are pushing their
own plans to raise the nation's debt limit. and the football lockout is finally over, as players and owners agreed to a new labor deal. it was the longest work stoppage in league history. the price of some prescription drugs is about to drop for millions of americans. in the next 14 months some of the world's best selling drugs will be available in a cheaper generic form. joel brown reports. >> hi, mr. tepper. nice to see you. >> 58-year-old ira tepper spends hundreds of dollars per year on lipitor, but says it's worth it to keep his health in check. >> if you look at my charts, everything is straight down the middle. >> reporter: there will soon be a cheaper option for tepper and millions of americans when drug patents expire in the coming months. >> a generic drug is in most cases essentially the same as
the preexisting drug, so we expect that it would have the same chemical formulation and the same effects. >> reporter: generic drugs can cost 20% to 80% less than brand names. doctors hope lower prices will help more people get the treatment they need. >> because they might have been on a fixed income or they simply could not afford the monthly payments. >> reporter: the drugs going off patent include cholesterol fighter lipitor, the drug thinner plavix, lexapro, singulair, lovasa, and actoso. tepper suffered a stroke four and is not going to be quick to take chances. >> i would switch but have to be reassured that the generic works. >> reporter: over the next decade generics become available an more than 100 drugs giving patients even more options. joel brown, cbs news, los angeles. still ahead this morning on "the early show," the latest on finger pointing over the stalled debt talks.
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woolite. long live your wardrobe. good morning. i'm jessica kartalija. we'll have top headlines in just a moment. let's take a look at the graphic. if's still pretty humid. i expected it to ab bit drier but skies have cleared out. tuesday's humidity will be knocked out of our forecast. 89 at lunch on a way to 91, goating comfortable pretty much every hour as we move through this workday. 75 at dinner. >> a dowed man identified. carroll county police said someone likely killed lewis nichols of denton.
stealing history, a presidential historian charged with taking millions dollars worth of documents has a bail heating. >> heated debate decides whether to impose an 11 p.m. curfew on teenagers. we have several big stories happening, including mexed reviews from the baltimore-- ravens. some of the team's most popular players wouldn't be coming back. the potential impact of the united states defaulting on its debt. never before seen footage of michael jackson's last rehearsals. what do they show? we're back in two minutes with all that and your first traffic report of the morning. please stay with us. ♪ have a better day [ male announcer ] only subway has a deal
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